In the traditional period, car insurance is not compulsory or necessary, because some people buy it or some did not. In the modern period, it is part of our daily life. People always went for it, if they purchase a new car. People always prefer safety and security while driving. They want proper coverage when he went for car insurance. The way of buying car insurance also changes from time to time. In the past, people only went to an agent and ask about insurance. But now it changes in many scenarios and from all aspects because people have a lot of options for insuring their vehicles and drivers. One of the options is regarding the method of buying others is regarding taking a policy of either vehicle or adding a driver to car insurance.
Every insurance company is different and has certain rules regarding the policy you buy. In general, most car insurers want to add a driver to car insurance. Adding a driver to car insurance means additional safety and security. This includes spouses, teenagers, children, and other people living in the same house as you. If someone occasionally drives your car, you don’t need to add them. Now we discuss the methods of buying car insurance, which is another option of policy difference.
Methods of buying car insurance:
There are various methods of buying car insurance. When you want to buy, you might be confused about where to buy. You should buy online or offline (from an agent or any other person dealing with insurance). This includes –
- Online purchase
- Buying from a captive agent
- Buying from an independent agent
- People who want to purchase by face-to-face contact should prefer agent mode. The agent is different from various points of view; policyholder needs to decide which is best for them. Let us discuss these by one: –
- Buying from the captive agent: –A captive agent is that insurance agent who works for only one insurance company. They charge their commission from that particular company. Also, they had been paid by that company in the form of a salary. You buy from a captive agent is you are specific or desired to want from a specific insurance company. A captive agent has all the knowledge regarding different policies or options of that insurance company. Therefore, they provide you full assistance to buy the right kind of policy. It may take more time to respond because they have a lot of pressure on the company.
- Buying from the independent agent: –An independent agent is one who works for neither one company or one firm. They deal with different insurance companies and several policies of different companies. You should buy a policy from them if you want to know the different policies of different companies and want to purchase the best one. This helps you to get a better rate. These agents do not work for one company, therefore would not push only one policy and will tell you better policy and positive points of all policies. They work for commission and push that policy which gives them a good rate of commission.
- Online purchase: – The best option is to purchase online. This is preferred by those who want to skip agents and middlemen. This is mostly preferred by educated people who have full knowledge regarding the internet and online method. This provides you a comparative view of all companies.